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Everyone knows (well almost everyone) that government data everywhere is cooked to suit the Central Banks and politicians. It is incredibly obvious to all those with a modicum sense of history and politics. The most fantastical fantasy is how our media has lured us into believing Chinese Government data. So totally, ludicrously absurd.
Ok, you win. You caught us. We have implanted brain shocking devices in the heads of the career civil servants to keep them in line and erase their memories when they leave government service. Civil servants are tasked with publishing the numbers that Comrade Obama, Comrade Michael Moore and Comrade George Soros decide the numbers should be.
Then, the real numbers are flown in black helicopters to Area 51 and buried.
Please don't use any GIFs in this thread, this a serious discussion. I'm not proven wrong.
Well, except for that whole retail sales data thing showing an increase in the month you claimed major recession in retail.
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I've been saying this whole time that data is cooked and there we have it in housing data.
As with all doomsday tin hatters, you selectively decide which data is "cooked" based on whether it agrees with your conclusion. Find some data you can use to bolster your claim? Good data! People counter with data that refutes it? Cooked data.
What you do is common among people with an agenda chasing a conclusion instead of truly attempting to discover truth.
Macy's lists 40 store closures, plans for thousands of layoffs.
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Cincinnati-based retailer Macy's Inc. announced last year that it would be closing up to 40 stores by the end of 2016, and on Wednesday it listed which ones it will shutter.
Macy's (NYSE: M) is closing 36 stores of its total 770 Macy's-branded locations by early spring 2016. Those will join four closed in the final three quarters of 2015 for a total of 40 shuttered locations. Those stores represent $375 million in annual sales, which Macy's expects will be absorbed by nearby stores and online sales. None of the Cincinnati-area Macy's locations are affected by the closings.
Macy's website is thriving and stores always close right
Tech companies go bankrupt all the time. Doesn't have anything in particular to do with tech being in a recession. It's not. Last time I was in Macy's, it really doesn't surprise me that they're not doing well. I went in there to get a couple of basic dress shirts. The whole store was completely unorganized and 90% of the inventory was odd sizes. Most people don't have <15" or >18" necks. That was 90% of the inventory though. The inventory wasn't organized so you had to look through every shirt. I left in disgust after about 10 minutes. Your average Ross or Khols was better run.
Macy's website is thriving and stores always close right
Many Macy's locations are not in optimal areas anymore, and should be closed. Demographics change and retail stores should change as well. But to add, see the response below.
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Originally Posted by Malloric
Tech companies go bankrupt all the time. Doesn't have anything in particular to do with tech being in a recession. It's not. Last time I was in Macy's, it really doesn't surprise me that they're not doing well. I went in there to get a couple of basic dress shirts. The whole store was completely unorganized and 90% of the inventory was odd sizes. Most people don't have <15" or >18" necks. That was 90% of the inventory though. The inventory wasn't organized so you had to look through every shirt. I left in disgust after about 10 minutes. Your average Ross or Khols was better run.
Macy's is becoming a victim of their own cost savings strategy, in that they have been cutting costs by way of labor for so long, it is actually impacting the stores. They lose good associates to higher paying stores, like Walmart, and they do not hire enough people to staff the stores appropriately, causing the issues you have described.
For as uppity as Macy's tries to make itself, it has absolutely **** poor wages and this in turn attracts the bottom of the barrel people, or people who are good and are looking for the first opportunity to leave. Walmart for example pays better, has more hours to give, does not have those ridiculous goals Macy's has, and even on its worst day Walmart still has better staffing of its stores.
Typical Macy's for a sales associate; come in the morning and start finding items to mail for online sales; then have to figure out a way to make an impossible goal, like selling $2000 worth of socks in six hours on a Wednesday; oh, but must also clean the changing rooms at the same time and put all the clothes back; listen to the manager complain that the associate cannot provide customer service at the same time cleaning the changing room; must listen to the manager complain how was not able to sell $2000 worth of socks.
On days when there is a lot of store traffic? Let's staff eight people per register so they can all fight and argue over who is using it, then complain why no one made their goal of $4000 worth of socks sold because "today is a day when people are suppose to buy socks". Now managers have this lack of making goal hanging over everyone heads, it comes down to who the manager personally likes in regards to who gets fired or not, who gets promoted or not, who gets their hours or not.
So yea, anyone worth the darn will soon leave, or not even apply, and only those without the capacity to have a better job, are in cahoots with the manager, or just need work while looking are to stay around. Why put up with all that BS for all of $8.25/hr (what they start out in high cost of living areas like DC) when they can go work at Walmart or Target for better pay and less hassle, especially with the goal BS.
Well Amazon and Netflix are trading at astronomical ratios and are probably the forthcoming headliners for this version of Fed Bubble III. Happy landing Amazon!
AMZN, up more than 100% YOY. Not a good example.
eBay isn't a retailer. Anyway the stock dropped by more than 50% in July, so if you wanted to talk about drops that would be the drop to talk about.
NFLX up over 100% YOY. Not exactly a retailer and not a good example.
AMZN, up more than 100% YOY. Not a good example.
eBay isn't a retailer. Anyway the stock dropped by more than 50% in July, so if you wanted to talk about drops that would be the drop to talk about.
NFLX up over 100% YOY. Not exactly a retailer and not a good example.
NFLX is not part of the example but it is part of FANG so called stocks carrying markets.
Though i would say they are sort of retail but a complex one
They had a good run last year, have to give credit
Many Macy's locations are not in optimal areas anymore, and should be closed. Demographics change and retail stores should change as well. But to add, see the response below.
Macy's is becoming a victim of their own cost savings strategy, in that they have been cutting costs by way of labor for so long, it is actually impacting the stores. They lose good associates to higher paying stores, like Walmart, and they do not hire enough people to staff the stores appropriately, causing the issues you have described.
For as uppity as Macy's tries to make itself, it has absolutely **** poor wages and this in turn attracts the bottom of the barrel people, or people who are good and are looking for the first opportunity to leave. Walmart for example pays better, has more hours to give, does not have those ridiculous goals Macy's has, and even on its worst day Walmart still has better staffing of its stores.
Yup and yup. Three Macy's in Sacramento: downtown, Arden Fair Mall, and three miles away from Arden Fair Country Club Plaza. The entire Arden/Country Club area is kind of not really sure which direction it's going area. It's got some areas going up and others going down. Plus then there's the two Macy's in Citrus Heights (also a not really sure if it's going up or down area) and Roseville. That's an awful lot of department stores, so it's really no surprise that they're closing the Country Club location. They should have done that decades ago when it took over Weinstocks in 1996.
Presently, yeah, they seem to be horribly run. Macy's tries to position itself above say JCP. Part of that means you need to offer a decent environment for shoppers. While you go into Ross or Kohl's and don't necessarily expect to be able to find things because they're discount clearance stores, you do not expect the same from Macy's. The time before the dress shirt incident I went in looking for socks and undershirts. I couldn't even find undershirts. They had an entire wall of them. They were all XS, S, XL, XXL. That was the Stockton store when I was home for the weekend. Maybe they just use that as retail warehouse for all the stuff they overorder and don't really expect to sell anything there. I ended up just going to Target. Somehow Target is able to actually stock basic items in normal sizes despite having about maybe 10% of the floorspace dedicated undershirts.
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